http://www.marketwire.com Marketwire - Bankruptcies en Copyright: (C) Marketwire Thu, 19 Nov 2009 18:13:24 EST 1 http://www.marketwire.com/rss/marketwire_logo.jpg http://www.marketwire.com http://www.marketwire.com/mw/release.do?id=1079781&sourceType=3 <div class="mw_release"> <p>HOUSTON, TEXAS--(Marketwire - Nov. 19, 2009) - On October 26, 2009, - Turnkey E&P Inc. ("Turnkey") (NEX BOARD:TKY.H), announced that its wholly-owned U.S. subsidiary, Turnkey E & P Corporation which is currently in Chapter 11 bankruptcy protection, had entered into a two year contract to rent its four drilling rigs to a Mexican drilling contractor. The contract was subject to the approval of the Bankruptcy Court and Turnkey's secured and unsecured creditors. Turnkey today announces that such approval was not obtained. The Bankruptcy Court has lifted the stay on foreclosure on the U.S. subsidiary's four drilling rigs by its secured creditor and has appointed a Trustee to manage the affairs of the U.S. subsidiary for the benefit of its creditors.</p> TSX:TKY Thu, 19 Nov 2009 17:40:00 EST